Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

XML 13 R2.htm IDEA: XBRL DOCUMENT v3.4.0.3
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Mar. 31, 2016
Dec. 31, 2015
CURRENT ASSETS:    
Cash and cash equivalents $ 20,739,000 $ 20,608,000
Marketable securities, available for sale 1,087,000 1,061,000
Royalty receivables 5,202,000 1,537,000
Other current assets 122,000 196,000
Total Current Assets 27,150,000 23,402,000
OTHER ASSETS:    
Deferred tax assets 6,396,000 4,958,000
Patent, net of accumulated amortization 1,590,000 2,002,000
Security deposits 19,000 19,000
Total Other Assets 8,005,000 6,979,000
TOTAL ASSETS 35,155,000 30,381,000
CURRENT LIABILITIES:    
Accounts payable 263,000 139,000
Accrued expenses 2,329,000 1,552,000
TOTAL LIABILITIES $ 2,592,000 $ 1,691,000
STOCKHOLDERS' EQUITY    
Preferred stock, $0.01 par value, authorized 10,000,000 shares; none issued and outstanding at March 31, 2016 and December 31, 2015
Common stock, $0.01 par value; authorized 50,000,000 shares; 23,295,446 and 23,211,149 shares issued and outstanding at March 31, 2016 and December 31, 2015, respectively $ 233,000 $ 232,000
Additional paid-in capital 61,319,000 61,249,000
Accumulated deficit (28,981,000) (32,756,000)
Accumulated other comprehensive loss (8,000) (35,000)
TOTAL STOCKHOLDERS' EQUITY 32,563,000 28,690,000
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 35,155,000 $ 30,381,000